www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com Pemex reports deep gas hit http://www.upstreamonline.com/live/1393132/pemex-reports-deep-gas-hit Mexico's Pemex has reported a gas find at a wildcat aiming to further explore its offshore deep-water potential. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1393132/pemex-reports-deep-gas-hit Fri, 27 Feb 2015 21:10:08 +0000 live US rig count falls by 43 http://www.upstreamonline.com/live/1393131/us-rig-count-falls-by-43 The number of rigs drilling for oil and gas fell again this week, losing 43 for a total of 1267, according to data from Houston-based services giant Baker Hughes. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1393131/us-rig-count-falls-by-43 Fri, 27 Feb 2015 19:00:39 +0000 live Concho adds to share offer http://www.upstreamonline.com/live/1393130/concho-adds-to-share-offer Concho Resources has expanded its planned stock offering, joining a handful of large US operators who are proactively bolstering their balance sheets by tapping equity markets. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1393130/concho-adds-to-share-offer Fri, 27 Feb 2015 18:47:54 +0000 live Goodrich drives down TMS costs http://www.upstreamonline.com/live/1393129/goodrich-drives-down-tms-costs US junior Goodrich Petroleum has been able to reduce its drilling and completion costs in the Tuscaloosa Marine shale (TMS), one of the most expensive exploration plays onshore US. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1393129/goodrich-drives-down-tms-costs Fri, 27 Feb 2015 18:34:50 +0000 live Chesapeake probing Kentucky shale http://www.upstreamonline.com/live/1393128/chesapeake-probing-kentucky-shale Appalachian giants EQT and Chesapeake Energy are drilling ahead on closely watched wildcats testing the emerging Rogersville shale play in eastern Kentucky. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1393128/chesapeake-probing-kentucky-shale Fri, 27 Feb 2015 18:05:33 +0000 live Pemex reveals new shale discovery http://www.upstreamonline.com/live/1393126/pemex-reveals-new-shale-discovery Pemex has revealed another shale discovery in its latest test of the promising Pimienta formation, the company said in its quarterly results. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1393126/pemex-reveals-new-shale-discovery Fri, 27 Feb 2015 17:41:09 +0000 live BP amends contract for Q5000 http://www.upstreamonline.com/live/1393125/bp-amends-contract-for-q5000 UK supermajor BP has pushed back the start date for its contract with Houston-based Helix Energy Solution for the Q5000 well-intervention vessel, giving the contractor additional time to market the newbuild vessel. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1393125/bp-amends-contract-for-q5000 Fri, 27 Feb 2015 17:37:21 +0000 live Pemex widens loss on low oil price http://www.upstreamonline.com/live/1393122/pemex-widens-loss-on-low-oil-price Mexico's Pemex nearly doubled a fourth-quarter loss as production fell and the impact of low crude prices took its toll. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1393122/pemex-widens-loss-on-low-oil-price Fri, 27 Feb 2015 17:21:29 +0000 live Brent set for first monthly gain in eight months http://www.upstreamonline.com/live/1393044/brent-set-for-first-monthly-gain-in-eight-months Crude oil futures rebounded on Friday and Brent headed for its first monthly gain since June, helped by strong investor inflows, an improving demand outlook and supply outages. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1393044/brent-set-for-first-monthly-gain-in-eight-months Fri, 27 Feb 2015 16:11:00 +0000 live Uganda round 'lacks safeguards' http://www.upstreamonline.com/live/1393102/uganda-round-lacks-safeguards Global Witness is calling for the Ugandan government to implement safeguards to prevent corruption and protect the environment after launching the country’s first competitive licensing round. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1393102/uganda-round-lacks-safeguards Fri, 27 Feb 2015 15:25:37 +0000 live UK's GMB moves closer to strike ballot http://www.upstreamonline.com/live/1393101/uks-gmb-moves-closer-to-strike-ballot Officials from the GMB trade union have won permission to ask members working in the UK North Sea to consider possible strike action as a challenge to “unilateral attacks” on terms and conditions. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1393101/uks-gmb-moves-closer-to-strike-ballot Fri, 27 Feb 2015 15:24:35 +0000 live Allseas wins Sverdrup platform job http://www.upstreamonline.com/live/1393099/allseas-wins-sverdrup-platform-job Allseas president Edward Heerema revealed on Friday that he signed a deal with Statoil this week for the installation of three platforms on the Johan Sverdrup field off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1393099/allseas-wins-sverdrup-platform-job Fri, 27 Feb 2015 14:26:50 +0000 live Rowan posts loss on jack-up impairments http://www.upstreamonline.com/live/1393098/rowan-posts-loss-on-jack-up-impairments US driller Roman swung to a fourth quarter and full year net loss as a $439.4 million non-cash impairment charge on its older jack-up rigs negated higher revenues in both periods. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1393098/rowan-posts-loss-on-jack-up-impairments Fri, 27 Feb 2015 14:06:25 +0000 live Aker hit by oil downturn http://www.upstreamonline.com/live/1393095/aker-hit-by-oil-downturn Norwegian holding company Aker saw Nkr4.4 billion ($576 million) wiped off the value of its assets in the fourth quarter, mainly due to a drop in the share prices of Det Norske Oljeselskap and Aker Solutions in which it holds substantial ownership interests. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1393095/aker-hit-by-oil-downturn Fri, 27 Feb 2015 13:27:09 +0000 live Petronas profits tumble by 27% http://www.upstreamonline.com/live/1393085/petronas-profits-tumble-by-27-percent Malaysian major sees annual earnings slide due to oil price plunge Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1393085/petronas-profits-tumble-by-27-percent Fri, 27 Feb 2015 12:20:29 +0000 live Statoil spuds Snefrid North http://www.upstreamonline.com/live/1393078/statoil-spuds-snefrid-north Statoil has kicked off drilling of a wildcat at the Snefrid North prospect with the aim of finding more resources near its under-development Aasta Hansteen field in the Norwegian Sea. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1393078/statoil-spuds-snefrid-north Fri, 27 Feb 2015 11:34:05 +0000 live Edison eyes Haribo probe http://www.upstreamonline.com/live/1393075/edison-eyes-haribo-probe Italian explorer Edison International has filed an application with the authorities to drill a wildcat at the Haribo prospect off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1393075/edison-eyes-haribo-probe Fri, 27 Feb 2015 11:27:53 +0000 live Deirdre Michie to lead Oil & Gas UK http://www.upstreamonline.com/live/1393073/deirdre-michie-to-lead-oil-and-gas-uk Trade association Oil & Gas UK has appointed Shell executive Deirdre Michie to take over as chief executive from Malcolm Webb, who retires in May.  Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1393073/deirdre-michie-to-lead-oil-and-gas-uk Fri, 27 Feb 2015 11:20:28 +0000 live Red ink for Bergen Group http://www.upstreamonline.com/live/1393071/red-ink-for-bergen-group Norwegian rig modification and repair outfit Bergen Group remained firmly anchored in the red in the fourth quarter as higher costs offset a significant increase in revenue. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1393071/red-ink-for-bergen-group Fri, 27 Feb 2015 11:02:06 +0000 live Novatek hammered by rouble's fall http://www.upstreamonline.com/live/1393067/novatek-hammered-by-roubles-fall Russian independent Novatek reported a halving in annual profits as the tumbling value of the Russian rouble swallowed up increased revenues from higher production and higher prices. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1393067/novatek-hammered-by-roubles-fall Fri, 27 Feb 2015 10:47:24 +0000 live Crunch vote on Noreco fate http://www.upstreamonline.com/live/1393064/crunch-vote-on-noreco-fate Norwegian independent Noreco suffered a big fourth-quarter loss on field writedowns due to low oil prices and is now banking on stakeholder approval of a financial restructuring plan to rescue the cash-strapped company. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1393064/crunch-vote-on-noreco-fate Fri, 27 Feb 2015 10:33:00 +0000 live Failed well sinks Rocksource http://www.upstreamonline.com/live/1393059/failed-well-sinks-rocksource Rocksource saw its fourth-quarter and full-year losses widen in 2014 as the Oslo-listed minnow was hit by higher exploration costs, largely from an abortive wildcat off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1393059/failed-well-sinks-rocksource Fri, 27 Feb 2015 09:59:38 +0000 live Uganda tables acreage in new licensing round http://www.upstreamonline.com/live/1393056/uganda-tables-acreage-in-new-licensing-round Country's first competitive offer to open up unexplored areas of Albertine Graben http://www.upstreamonline.com/live/1393056/uganda-tables-acreage-in-new-licensing-round Fri, 27 Feb 2015 09:35:54 +0000 live Bounty cancels Carnarvon deal with Empire http://www.upstreamonline.com/live/1393048/bounty-cancels-carnarvon-deal-with-empire A deal between Australian juniors Bounty Oil & Gas and Empire Oil & Gas has fallen through which would have seen the former take over Empire's remaining acreage in Western Australia's onshore Carnarvon basin. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1393048/bounty-cancels-carnarvon-deal-with-empire Fri, 27 Feb 2015 09:14:00 +0000 live BP 'faces legal action' over In Amenas http://www.upstreamonline.com/live/1393049/bp-faces-legal-action-over-in-amenas The family of two Britons killed in a terrorist attack on the In Amenas gas plant in Algeria reportedly intend to sue UK supermajor BP over an alleged lack of adequate security measures at the facility. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1393049/bp-faces-legal-action-over-in-amenas Fri, 27 Feb 2015 09:07:33 +0000 live Woodside in $1bn bond issue http://www.upstreamonline.com/live/1393038/woodside-in-usd-1bn-bond-issue Australia's Woodside Petroleum is raising US$1 billion through the issuance of corporate bonds in the US market. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1393038/woodside-in-usd-1bn-bond-issue Fri, 27 Feb 2015 08:23:00 +0000 live Peregrino 2 out of blocks http://www.upstreamonline.com/live/1393039/peregrino-2-out-of-blocks Statoil has submitted the development plan to the authorities for the second phase of its Peregrino field development off Brazil after formally sanctioning investments in the $3.5 billion project. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1393039/peregrino-2-out-of-blocks Fri, 27 Feb 2015 08:21:13 +0000 live Keppel to deliver 100th jack-up http://www.upstreamonline.com/live/1393037/keppel-to-deliver-100th-jack-up Singapore's Keppel Fels is set to deliver its 100th jack-up drilling rig with the completion of a KFELS B Class jack-up for PetroVietnam Drilling & Well Services (PV Drilling). Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1393037/keppel-to-deliver-100th-jack-up Fri, 27 Feb 2015 07:58:54 +0000 live Arrow reveals enticing Bowen contracts http://www.upstreamonline.com/live/1393033/arrow-reveals-enticing-bowen-contracts Anglo-Dutch supermajor Shell and PetroChina’s Australian subsidiary, 50:50 owners of Arrow Energy, are tempting services providers with upstream work linked to the Bowen gas project onshore Queensland. stories@upstreamonline.com (Upstream Staff) http://www.upstreamonline.com/live/1393033/arrow-reveals-enticing-bowen-contracts Fri, 27 Feb 2015 06:51:26 +0000 live YPF sees profits slip amid output boost http://www.upstreamonline.com/live/1393015/ypf-sees-profits-slip-amid-output-boost Argentina's YPF saw its fourth-quarter profits slide while facing higher costs, but notched operational gains in its drive to increase production and target unconventionals. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1393015/ypf-sees-profits-slip-amid-output-boost Thu, 26 Feb 2015 23:43:58 +0000 live Ensco takes $3.9bn writedown http://www.upstreamonline.com/live/1393011/ensco-takes-usd-39bn-writedown Driller Ensco Plc took a mammoth writedown of $3.9 billion in the fourth quarter and stacked seven rigs as the contractor hunkered down amid the storm of low oil prices. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1393011/ensco-takes-usd-39bn-writedown Thu, 26 Feb 2015 21:30:50 +0000 live Intecsea bags Buckskin FEED gig http://www.upstreamonline.com/live/1393010/intecsea-bags-buckskin-feed-gig Deep-water engineering outfit Intecsea confirmed it is handling front-end engineering and design work for Chevron's Buckskin-Moccasin tieback development in the US Gulf of Mexico. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1393010/intecsea-bags-buckskin-feed-gig Thu, 26 Feb 2015 18:12:16 +0000 live Petrobras scandal about to hit political class http://www.upstreamonline.com/live/1393006/petrobras-scandal-about-to-hit-political-class Brazil's top prosecutor is expected to file charges in coming days against politicians implicated in the Petrobras corruption scandal, a political bombshell that could involve members of Congress and President Dilma Rousseff's government. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1393006/petrobras-scandal-about-to-hit-political-class Thu, 26 Feb 2015 17:08:29 +0000 live Dijols elected chair of CAT Oil http://www.upstreamonline.com/live/1393004/dijols-elected-chair-of-cat-oil Oil industry veteran Maurice Dijols has been appointed chairman of Austria’s CAT Oil just a day after he was involved in an unsuccessful leadership heave at Petroceltic International. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1393004/dijols-elected-chair-of-cat-oil Thu, 26 Feb 2015 16:45:04 +0000 live Total go-ahead for Skirne East http://www.upstreamonline.com/live/1392999/total-go-ahead-for-skirne-east Total has been given the safety nod to drill a wildcat at the Skirne East prospect off Norway using semi-submersible Leiv Eiriksson. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392999/total-go-ahead-for-skirne-east Thu, 26 Feb 2015 15:55:22 +0000 live Statfjord C in 'shutdown' http://www.upstreamonline.com/live/1392995/statfjord-c-in-shutdown Statoil is set to shut down production from its veteran Statfjord C platform off Norway next month after discovering cracks in the facility’s flare tower, according to a report. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392995/statfjord-c-in-shutdown Thu, 26 Feb 2015 15:47:38 +0000 live NADL sinks into red on impairments http://www.upstreamonline.com/live/1392993/nadl-sinks-into-red-on-impairments North Atlantic Drilling Ltd (NADL) sank to a loss in the fourth quarter as heavy impairments on expected lower dayrate revenue in a weak drilling market holed the bottom line of Seadrill’s harsh-environment rig subsidiary. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392993/nadl-sinks-into-red-on-impairments Thu, 26 Feb 2015 15:20:31 +0000 live Wentworth gains on Mnazi progess http://www.upstreamonline.com/live/1392992/wentworth-gains-on-mnazi-progess London- and Oslo-listed junior Wentworth Resources' stock rose by about 9% on Thursday after it said it was now expecting the Maurel & Prom-operated Mnazi Bay gas field to generate "substantial free cash flow" this year. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392992/wentworth-gains-on-mnazi-progess Thu, 26 Feb 2015 15:10:30 +0000 live Saudi Aramco axes Hercules 261 contract http://www.upstreamonline.com/live/1392987/saudi-aramco-axes-hercules-261-contract Saudi Aramco has told Hercules Offshore it plans to axe its contract for the jack-up Hercules 261 with four and a half years left to run on the deal. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392987/saudi-aramco-axes-hercules-261-contract Thu, 26 Feb 2015 14:15:24 +0000 live Safety nod for Gina Krog probe http://www.upstreamonline.com/live/1392985/safety-nod-for-gina-krog-probe Statoil has been granted the safety green light to drill an exploration well at the Gina Krog 3 prospect near the under-development field off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392985/safety-nod-for-gina-krog-probe Thu, 26 Feb 2015 14:07:27 +0000 live Hefty writedown for Transocean http://www.upstreamonline.com/live/1392984/hefty-writedown-for-transocean Transocean plunged to a heavy loss in the fourth quarter after recording a $992 million writedown on the value of its contract drilling business. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392984/hefty-writedown-for-transocean Thu, 26 Feb 2015 13:49:56 +0000 live COPL, Shoreline form Africa partnership http://www.upstreamonline.com/live/1392977/copl-shoreline-form-africa-partnership Canadian Overseas Petroleum and Nigeria's Shoreline Energy have formed a joint venture to focus on acquiring upstream exploration, development and production assets in sub-Saharan Africa. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392977/copl-shoreline-form-africa-partnership Thu, 26 Feb 2015 12:42:31 +0000 live Asco nets Mariner supply base work http://www.upstreamonline.com/live/1392972/asco-nets-mariner-supply-base-work UK oilfield services player Asco Group has won a pair of long-term contracts from Statoil for supply base and warehousing services at the Norwegian player’s $7 billion Mariner heavy-oilfield development in the UK North Sea. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392972/asco-nets-mariner-supply-base-work Thu, 26 Feb 2015 12:12:11 +0000 live Impairments hit Sevan Drilling http://www.upstreamonline.com/live/1392970/impairments-hit-sevan-drilling Sevan Drilling saw its net loss widen in the fourth quarter as the contractor was forced to take a significant impairment on a pair of cylindrical rigs working for Petrobras off Brazil. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392970/impairments-hit-sevan-drilling Thu, 26 Feb 2015 11:49:11 +0000 live CGG slumps to $1.15bn loss http://www.upstreamonline.com/live/1392963/cgg-slumps-to-usd-115bn-loss Paris-based geosciences player CGG reported deepening annual losses of $1.12 billion in 2014 as $939 million worth of non-recurring charges in redundancy costs and goodwill and asset impairments wiped out earnings. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392963/cgg-slumps-to-usd-115bn-loss Thu, 26 Feb 2015 11:40:46 +0000 live Awilco loses rig extension http://www.upstreamonline.com/live/1392805/awilco-loses-rig-extension US independent Hess has decided not to exercise an extension option on a rig charter with Awilco Drilling. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392805/awilco-loses-rig-extension Thu, 26 Feb 2015 10:56:11 +0000 live Bibby Offshore reshuffles management http://www.upstreamonline.com/live/1392800/bibby-offshore-reshuffles-management Bibby Offshore has made a set of changes to the management and board of the subsea installation, inspection, repair and maintenance (IRM) services specialist. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392800/bibby-offshore-reshuffles-management Thu, 26 Feb 2015 10:35:53 +0000 live Profits tumble for Maersk Drilling http://www.upstreamonline.com/live/1392792/profits-tumble-for-maersk-drilling Maersk Drilling suffered lower earnings last year as its result was hit by impairments, rig start-up costs and reduced utilisation due to fleet maintenance. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392792/profits-tumble-for-maersk-drilling Thu, 26 Feb 2015 10:05:51 +0000 live Maersk Oil UK hires new boss http://www.upstreamonline.com/live/1392787/maersk-oil-uk-hires-new-boss Denmark’s Maersk Oil has hired a new head of its UK business as the North Sea player advances its Culzean project into field development. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392787/maersk-oil-uk-hires-new-boss Thu, 26 Feb 2015 09:50:34 +0000 live MOSB enters MoU for Myanmar supply base http://www.upstreamonline.com/live/1392778/mosb-enters-mou-for-myanmar-supply-base Myanmar Offshore Supply Base (MOSB) has signed a memorandum of understanding with the Mon State government setting out the terms for the construction of a supply base in Mawlamyine. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392778/mosb-enters-mou-for-myanmar-supply-base Thu, 26 Feb 2015 09:34:09 +0000 live Seadrill: Rosneft contracts 'at risk' http://www.upstreamonline.com/live/1392781/seadrill-rosneft-contracts-at-risk Seadrill has warned that stalled rig contracts worth a total of $4.1 billion signed with Russian state-owned Rosneft  could be on the rocks, while it has also been notified of a further rig termination amid a drilling market slump. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392781/seadrill-rosneft-contracts-at-risk Thu, 26 Feb 2015 09:23:21 +0000 live Caza cancels Clayton Williams deal http://www.upstreamonline.com/live/1392777/caza-cancels-clayton-williams-deal Caza Oil & Gas has cancelled a farm-in deal with fellow Texas-based independent Clayton Williams on Bone Spring and Wolfcamp prospective lands to conserve cash to focus on existing projects without pressing drill commitments. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392777/caza-cancels-clayton-williams-deal Thu, 26 Feb 2015 09:17:17 +0000 live Kurdistan cash for Gulf Keystone http://www.upstreamonline.com/live/1392774/kurdistan-cash-for-gulf-keystone London-listed Gulf Keystone Petroleum has received a $20.8 million payment in receivables for its Shaikan oil exports a day after it said it was in talks to sell assets or the whole company. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392774/kurdistan-cash-for-gulf-keystone Thu, 26 Feb 2015 08:58:29 +0000 live Hoegh sinks deeper into the red http://www.upstreamonline.com/live/1392773/hoegh-sinks-deeper-into-the-red Hoegh LNG widened its losses in the final quarter of 2014 as impairments sank the company deeper into the red. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392773/hoegh-sinks-deeper-into-the-red Thu, 26 Feb 2015 08:56:25 +0000 live Premier plunges into the red http://www.upstreamonline.com/live/1392769/premier-plunges-into-the-red Premier Oil has ditched its dividend after plunging to a heavy loss last year as it suffered impairments on several fields due to low oil prices, while it has also been forced to delay first oil from its Solan field off the UK. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392769/premier-plunges-into-the-red Thu, 26 Feb 2015 08:26:14 +0000 live Repsol posts rise in profits http://www.upstreamonline.com/live/1392767/repsol-posts-rise-in-profits Spanish giant Repsol booked a rise in profits during 2014, however a fall in oil prices dragged down the performance of the upstream business. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392767/repsol-posts-rise-in-profits Thu, 26 Feb 2015 07:56:49 +0000 live Tasmania extends fracking ban http://www.upstreamonline.com/live/1392760/tasmania-extends-fracking-ban The Tasmanian government has extended its moratorium on fracking in the Australian state for another five years. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392760/tasmania-extends-fracking-ban Thu, 26 Feb 2015 07:20:59 +0000 live Inquiry gives nod to NT fracking http://www.upstreamonline.com/live/1392756/inquiry-gives-nod-to-nt-fracking Onshore exploration in Australia's Northern Territory has been given a boost following an independent report backing the use of fracking to develop the Territory's shale gas resources. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392756/inquiry-gives-nod-to-nt-fracking Thu, 26 Feb 2015 07:01:11 +0000 live Zion enters agreement for Israel rig http://www.upstreamonline.com/live/1392755/zion-enters-agreement-for-israel-rig Israel-focused Zion Oil & Gas has signed a memorandum of understanding with Netherlands-based Viking Services to secure a drilling rig ahead of spudding an exploration well on its Megiddo-Jezreel licence. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392755/zion-enters-agreement-for-israel-rig Thu, 26 Feb 2015 05:11:52 +0000 live Oil dips in early trade http://www.upstreamonline.com/live/1392754/oil-dips-in-early-trade Brent crude fell towards $61 on Thursday, reversing previous gains as a bulging US crude stockpiles offset glimpses of an oil demand recovery. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392754/oil-dips-in-early-trade Thu, 26 Feb 2015 04:46:44 +0000 live Bear Head applies to export US gas to Canada http://www.upstreamonline.com/live/1392753/bear-head-applies-to-export-us-gas-to-canada Australia's Liquefied Natural Gas Limited (LNG Ltd) has filed an application with the US Department of Energy (DOE) to export gas to Canada for its Bear Head LNG project in Nova Scotia. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392753/bear-head-applies-to-export-us-gas-to-canada Thu, 26 Feb 2015 04:27:47 +0000 live Impairments hit Bumi's profits http://www.upstreamonline.com/live/1392752/impairments-hit-bumis-profits Malaysia's Bumi Armada saw profits slip in 2014, despite a rise in revenues, due to allowances for trade receivables and asset impairments. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392752/impairments-hit-bumis-profits Thu, 26 Feb 2015 03:09:24 +0000 live Range cuts spending http://www.upstreamonline.com/live/1392749/range-cuts-spending US company Range Resources will slash capital expenditure this year, despite an increase in profits on the back of record output. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392749/range-cuts-spending Thu, 26 Feb 2015 02:29:24 +0000 live Venezuela applies to anul $1.6bn award http://www.upstreamonline.com/live/1392748/venezuela-applies-to-anul-usd-16bn-award Venezuela has requested the annulment of a World Bank tribunal award that orders it pay ExxonMobil $1.6 billion in compensation for nationalisations, both sides said on Wednesday. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1392748/venezuela-applies-to-anul-usd-16bn-award Thu, 26 Feb 2015 00:19:59 +0000 live Ocean Rig surges to beat street http://www.upstreamonline.com/live/1392747/ocean-rig-surges-to-beat-street High-spec rig specialist Ocean Rig bucked an industry downturn and more than doubled profits in the fourth quarter, the company said Wednesday. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1392747/ocean-rig-surges-to-beat-street Thu, 26 Feb 2015 00:06:47 +0000 live Whiting posts loss on writedowns http://www.upstreamonline.com/live/1392746/whiting-posts-loss-on-writedowns Bakken giant Whiting Petroleum posted a quarterly loss due to writedowns on asset value due to low oil prices, as it got to work completing wells on acreage acquired in its purchase of Kodiak Oil & Gas. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1392746/whiting-posts-loss-on-writedowns Wed, 25 Feb 2015 23:50:56 +0000 live Fluor JV wins Brazil work http://www.upstreamonline.com/live/1392745/fluor-jv-wins-brazil-work A joint venture between engineering firm Fluor and Brazilian counterpart Construcap Engenharia has won an engineering and design contract for an onshore field development in Brazil operated by independent Parnaíba Gas Natural (PGN). Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1392745/fluor-jv-wins-brazil-work Wed, 25 Feb 2015 23:15:18 +0000 live Man charged in $2.3m Macondo fraud http://www.upstreamonline.com/live/1392743/man-charged-in-usd-23m-macondo-fraud A North Carolina man has been arrested on allegations of $2.3 million in fraud and inventing a fake fishing lodge to claim false losses from a BP compensation fund after the 2010 Macondo spill. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1392743/man-charged-in-usd-23m-macondo-fraud Wed, 25 Feb 2015 22:46:00 +0000 live Noble cashing up with stock sale http://www.upstreamonline.com/live/1392744/noble-cashing-up-with-stock-sale Noble Energy plans to raise more than $1 billion through the sale of up to 24.15 million shares of common stock in order to pay down debt. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1392744/noble-cashing-up-with-stock-sale Wed, 25 Feb 2015 22:45:56 +0000 live Shell drops Yucatan leases http://www.upstreamonline.com/live/1392742/shell-drops-yucatan-leases Anglo-Dutch supermajor Shell has allowed one of its leases comprising its Yucatan discovery to expire and is weighing future options for a field thought of as a co-development candidate for Anadarko's Shenandoah project. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1392742/shell-drops-yucatan-leases Wed, 25 Feb 2015 22:40:45 +0000 live Petrobras 'looks to market $3bn in assets' http://www.upstreamonline.com/live/1392738/petrobras-looks-to-market-usd-3bn-in-assets Petrobras has reportedly hired JPMorgan Chase to market and facilitate $3 billion in planned asset sales this year, as fallout from a corruption scandal has shut access to financing for Brazil's state-controlled oil producer. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1392738/petrobras-looks-to-market-usd-3bn-in-assets Wed, 25 Feb 2015 20:10:54 +0000 live Oil sands cash flows 'to turn negative' http://www.upstreamonline.com/live/1392731/oil-sands-cash-flows-to-turn-negative Cash flows in the Canadian oil sands could turn negative and fall by around $23 billion over the next two years due to low oil prices, according to consultancy WoodMackenzie. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1392731/oil-sands-cash-flows-to-turn-negative Wed, 25 Feb 2015 18:38:17 +0000 live New chief for Wood Group Mustang http://www.upstreamonline.com/live/1392718/new-chief-for-wood-group-mustang Engineering player Wood Group has appointed Michele McNichol as its new chief executive, the company said today. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1392718/new-chief-for-wood-group-mustang Wed, 25 Feb 2015 15:45:49 +0000 live Petroceltic wins ownership battle http://www.upstreamonline.com/live/1392719/petroceltic-wins-ownership-battle Irish explorer Petroceltic International has won a series of shareholder votes on resolutions that sought to oust the chief executive and install two nominees of activist investor Worldview Capital Management to the company's board. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392719/petroceltic-wins-ownership-battle Wed, 25 Feb 2015 15:44:06 +0000 live Contractors face 'Brazil fallout' http://www.upstreamonline.com/live/1392715/contractors-face-brazil-fallout A raft of oilfield service and drilling contractors with heavy exposure in Brazil - including Subsea 7, Aker Solutions and Seadrill - run the risk of contractual losses as a result of the escalating corruption scandal at Petrobras, according to a DNB Markets analysis. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392715/contractors-face-brazil-fallout Wed, 25 Feb 2015 15:39:56 +0000 live Chesapeake hikes annual profit http://www.upstreamonline.com/live/1392714/chesapeake-hikes-annual-profit Oklahoma’s Chesapeake Energy ramped up annual profits to $1.27 billion in 2014 from $474 million a year earlier while also revealing plans to slash spending in 2015 in the face of tumbling oil prices. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392714/chesapeake-hikes-annual-profit Wed, 25 Feb 2015 15:02:05 +0000 live Ophir seeks partners in Kenya deep http://www.upstreamonline.com/live/1392712/ophir-seeks-partners-in-kenya-deep Africa-focused independent Ophir Energy has begun a farmout search for partners to join its deep-water block L9 off Kenya. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392712/ophir-seeks-partners-in-kenya-deep Wed, 25 Feb 2015 14:21:01 +0000 live Vessel owners holed on bottom line http://www.upstreamonline.com/live/1392707/vessel-owners-holed-on-bottom-line Offshore vessel owners Farstad Shipping and Deep Sea Supply sailed into red ink in the fourth quarter as both suffered fleet impairments amid market doldrums. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392707/vessel-owners-holed-on-bottom-line Wed, 25 Feb 2015 13:54:33 +0000 live Sevan Marine in strategic review http://www.upstreamonline.com/live/1392704/sevan-marine-in-strategic-review Norway’s Sevan Marine has launched a strategic review after suffering a fourth-quarter loss on a writedown of its topside & process division as it warned field project delays are set to hit further floater technology licensing awards this year. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392704/sevan-marine-in-strategic-review Wed, 25 Feb 2015 12:46:45 +0000 live Encana profits on asset sales http://www.upstreamonline.com/live/1392699/encana-profits-on-asset-sales Canada’s Encana reported a $3.39 billion profit for 2014 in a net result greatly increased from 2013's profit of $236 million thanks largely to a $2.5 billion divestment gain. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392699/encana-profits-on-asset-sales Wed, 25 Feb 2015 11:57:44 +0000 live Providence lines up $30m refinancing http://www.upstreamonline.com/live/1392698/providence-lines-up-usd-30m-refinancing Irish explorer Providence Resources has lined up a proposed share placing and open offer to raise $31.41 million as it awaits the sealing of a would-be farmout deal on its Barryroe oilfield off Ireland. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392698/providence-lines-up-usd-30m-refinancing Wed, 25 Feb 2015 11:20:13 +0000 live Gulf Keystone 'in sale talks' http://www.upstreamonline.com/live/1392693/gulf-keystone-in-sale-talks London-listed Gulf Keystone’s shares jumped by 51% after the operator said it was in talks on an asset selloff or a sale of the company. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392693/gulf-keystone-in-sale-talks Wed, 25 Feb 2015 10:10:11 +0000 live Petrofac net profit down 80% http://www.upstreamonline.com/live/1392687/petrofac-net-profit-down-80-percent London-listed oilfield services player Petrofac has reported net profit down 80% to $120 million as exceptional items swallowed up operating profits and steady revenues. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1392687/petrofac-net-profit-down-80-percent Wed, 25 Feb 2015 09:16:40 +0000 live Petrofac goes Surfing with McDermott http://www.upstreamonline.com/live/1392686/petrofac-goes-surfing-with-mcdermott Petrofac has forged a strategic marketing tie-up with McDermott International to capture subsea, umbilical, riser and flowline (Surf) work in the deep-water segment. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392686/petrofac-goes-surfing-with-mcdermott Wed, 25 Feb 2015 09:16:36 +0000 live Further delay on Greater Stella http://www.upstreamonline.com/live/1392679/further-delay-on-greater-stella Ithaca Energy is facing a further delay of almost a year to start-up of its Greater Stella Area (GSA) development hub project off the UK due to stalled modification work by Petrofac on the field’s floating production unit. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392679/further-delay-on-greater-stella Wed, 25 Feb 2015 08:46:22 +0000 live Odfjell snares Sverdrup award http://www.upstreamonline.com/live/1392677/odfjell-snares-sverdrup-award Odfjell Drilling has secured a Nkr110 million ($14.5 million) sub-contract with Aibel for engineering work on the topsides of the drilling platform for the Johan Sverdrup field development off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392677/odfjell-snares-sverdrup-award Wed, 25 Feb 2015 08:26:24 +0000 live Rawicz well flows gas http://www.upstreamonline.com/live/1392676/rawicz-well-flows-gas Irish explorer San Leon Energy expects it has made its first commercial gas discovery in Poland following positive test results on the Rawicz concession. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392676/rawicz-well-flows-gas Wed, 25 Feb 2015 08:19:18 +0000 live Odfjell warns of Brazil 'risk' http://www.upstreamonline.com/live/1392671/odfjell-warns-of-brazil-risk Odfjell Drilling slumped to a loss in the fourth quarter on lower revenue and impairments on a pair of drillships as it warned of a re-contracting risk for some of its rigs as well as possible financial fallout from the Petrobras corruption scandal in Brazil. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392671/odfjell-warns-of-brazil-risk Wed, 25 Feb 2015 07:55:45 +0000 live Impairments dent Det Norske's bottom line http://www.upstreamonline.com/live/1392670/impairments-dent-det-norskes-bottom-line Norway's Det Norske Oljeselskap plunged deeper into the red during the fourth quarter as impairments offset a rise in revenue and production. Josh.Lewis@upstreamonline.com (Josh Lewis), Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1392670/impairments-dent-det-norskes-bottom-line Wed, 25 Feb 2015 07:25:22 +0000 live Venezuela, Trinidad sign agreements http://www.upstreamonline.com/live/1392669/venezuela-trinidad-sign-agreements Energy giants Trinidad & Tobago and Venezuela signed a suite of agreements for the development of a cross-border natural gas field and the trade of crude oil. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1392669/venezuela-trinidad-sign-agreements Wed, 25 Feb 2015 06:15:15 +0000 live Brent inches higher http://www.upstreamonline.com/live/1392668/brent-inches-higher Brent crude rose marginally toward $59 a barrel on Wednesday, helped by better than expected Chinese factory activity data, the Federal Reserve's flexible stance on US interest rates and the eurozone's approval of reforms proposed by Greece. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392668/brent-inches-higher Wed, 25 Feb 2015 05:22:00 +0000 live Petrobras loses investment grading http://www.upstreamonline.com/live/1392667/petrobras-loses-investment-grading Moody's Investors Services has downgraded its rating for Petrobras, with the Brazilian company no longer ranked as an investment grade company for the New York-based ratings agency. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392667/petrobras-loses-investment-grading Wed, 25 Feb 2015 05:05:58 +0000 live Vallianz doubles profits http://www.upstreamonline.com/live/asia_oceania/1392666/vallianz-doubles-profits Singapore-listed Vallianz Holdings nearly doubled its profits in 2014 on the back of a surge in revenue. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/asia_oceania/1392666/vallianz-doubles-profits Wed, 25 Feb 2015 04:13:44 +0000 live live_asiaoceania WorleyParsons sees profits slip http://www.upstreamonline.com/live/1392665/worleyparsons-sees-profits-slip Australian engineering player WorleyParsons saw profits slip for the half-year ended 31 December following a fall in revenue. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392665/worleyparsons-sees-profits-slip Wed, 25 Feb 2015 03:46:53 +0000 live Low oil prices sink AWE into the red http://www.upstreamonline.com/live/1392664/low-oil-prices-sink-awe-into-the-red Australia's AWE was dragged into the red as lower oil prices and impairments hit revenue and profits. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1392664/low-oil-prices-sink-awe-into-the-red Wed, 25 Feb 2015 01:28:00 +0000 live OGA head issues 'call to action' http://www.upstreamonline.com/live/1392663/oga-head-issues-call-to-action The head of the UK North Sea's new regulator has given leading operators until April to submit "stewardship improvement plans" as part of an urgent drive to protect critical infrastructure from closure and safeguard the long-term future of the mature basin. (Rob Watts) http://www.upstreamonline.com/live/1392663/oga-head-issues-call-to-action Wed, 25 Feb 2015 00:54:25 +0000 live Cameron LNG expansion files with Ferc http://www.upstreamonline.com/live/1392661/cameron-lng-expansion-files-with-ferc Cameron LNG has kicked off the process to ask permission from US regulators to build expanded liquefaction capacity at the company's liquefied natural gas terminal in Hackberry, Louisiana. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1392661/cameron-lng-expansion-files-with-ferc Wed, 25 Feb 2015 00:14:38 +0000 live Stone preps 2015 deep-water drilling http://www.upstreamonline.com/live/1392660/stone-preps-2015-deep-water-drilling US independent Stone Energy is prepping to drill a handful of wells in the deep-water Gulf of Mexico after reporting a loss on income for the end of 2014. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1392660/stone-preps-2015-deep-water-drilling Tue, 24 Feb 2015 23:30:06 +0000 live Continental takes big impairment http://www.upstreamonline.com/live/1392658/continental-takes-big-impairment Continental Resources saw its fourth-quarter profits fall by 14% as the company grappled with the fallout of lower oil prices and took big depreciation and impairment charges. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1392658/continental-takes-big-impairment Tue, 24 Feb 2015 23:14:41 +0000 live Pacific newbuild joins US Gulf fray http://www.upstreamonline.com/live/1392653/pacific-newbuild-joins-us-gulf-fray Pacific Drilling is moving its latest state-of-the art newbuild drillship to the Gulf of Mexico without a contract, a surprise to analysts given a slack rig market. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1392653/pacific-newbuild-joins-us-gulf-fray Tue, 24 Feb 2015 22:20:45 +0000 live